Posts Tagged ‘Recession’

Noreena on BBC One’s Question Time

February 3rd, 2011 by admin

Professor Noreena Hertz makes a guest appearance on BBC One’s Question Time on Thursday 3rd February 2011.

First broadcast: BBC One, 10.35pm GMT

Watch Noreena, with Immigration Minister Damian Green, Shadow Education Secretary Andy Burnham, former Labour MP Clare Short and Daily Mail columnist Melanie Phillips discuss the week’s most newsworthy issues, broadcast in front of a live audience in Workington, England. Available for UK viewers only (Video duration: 59.18)


See below for Noreena’s thoughts on the coalition government’s spending cuts. Available for UK and non-UK viewers (Clip duration: 1.28)


About the programme:

Having been broadcast since 1979, Question Time has become something of a national institution. Alongside current host David Dimbleby, the panellists – consisting of a range of high-profile figures in politics, industry, the media and entertainment – debate the events of the day.

But at the heart of Question Time is the audience – both in the studio and at home…

Visit the BBC Question Time website for more information and recent programme highlights.

Noreena rethinks Economics in Der Spiegel

March 24th, 2010 by admin

Spiegel Online: ‘Even war is good for economic growth’

Economist and globalization guru Noreena Hertz was already warning about overpowerful banks, unfettered greed and unregulated markets way back in 2001. Speaking to SPIEGEL ONLINE, she explains the limits of focusing on GDP and why capitalism is at a turning point.

SPIEGEL ONLINE: Dr. Hertz, one is constantly reading about how much a country’s economy has grown or shrunk. Why is gross domestic product (GDP) taken so seriously?

Noreena Hertz: It’s easy to measure and shows how one nation performs in comparison to another. Every country, therefore, measures its economic success by its GDP. Only Bhutan is an exception.

SPIEGEL ONLINE: According to the constitution of Bhutan, the people should not become richer every year, but happier. The little Asian kingdom wants to achieve this with a socially equitable society and better protection of the environment. Is this a better approach?

Hertz: Definitely. GDP only measures a small part of economic success. Some really important aspects are ignored. Take sustainability, for example. It’s absurd that a country can have high growth rates because it has a lot of polluting industry. The quality of the air, health, progress made by women, child care and social cohesion — these are all important economic factors. GDP does not show how innovative an economy is. Nor does it show if the products being produced will be successful in the long run or will be out of fashion tomorrow. But, up to now, there has not been a substitute for GDP…

Read the rest of this interview on the Spiegel Online website

‘Dr Noreena Hertz, an Associate Director of CIBAM at Judge Business School in Cambridge tells Boni Sones why she thinks we are about to move from an era of “Gucci” capitalism to a new one of “co-operative capitalism” and how women and families will benefit.’

Listen to the podcast on the Judge Business School, University of Cambridge website

See also Women’s Parliamentary Radio ( for the same podcast on Women and the recession (23/09/2010: 5th in Top Ten most downloaded podcasts)

Noreena on Cooperation in ‘Nature’

February 19th, 2009 by admin

Nature 457, 962-963 : ‘Recession Watch: Cooperation Must Rule’

Published: 19th February 2009

Navigating an unpredictable world will need different research disciplines to work together as equals, says Noreena Hertz.

We are witnessing the coming home to roost of the era of ‘Gucci capitalism’. An era, born of the mid-1980s, that failed to question the market’s ability to self-regulate and tilted the balance of power between corporations and society firmly in the favour of businesses. An era that deified self-interest and greed. It precipitated a global recession that will last until at least mid-2010, and triggered a new socio-political environment that presents a very different playing field for business. We are now in the era of ‘co-op capitalism’, where cooperation rather than selfish behaviour will rule.

To understand co-op capitalism requires an understanding of socioeconomic, political, psychological, historical and legal trends. And so it will bring work of often-sidelined researchers into the mainstream. Traditional business forecasts have usually ignored such ‘soft’ knowledge. But with the entire political and economic system in a state of flux, companies would be well-minded to monitor Internet campaigns, track media concerns, and search for historical parallels. When an economic trajectory is constant, such data might be considered incidental. When we don’t even know what trajectory we are on it becomes essential…

To read the rest of the interview, view the PDF in Nature: Recession Watch: Cooperation Must Rule.

Professor Noreena Hertz debates the right steps to economic recovery with Professor Robert Reich and Sir Martin Sorrell on BBC’s ‘Newsnight’.

Watch the programme on the BBC News website.